Celestica Inc. (NYSE:CLS) Short Interest Up 9.0% in September

Celestica Inc. (NYSE:CLS) (TSE:CLS) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,510,000 shares, an increase of 9.0% from the August 31st total of 3,220,000 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 2,200,000 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

Several research firms have recently issued reports on CLS. CIBC upped their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. BMO Capital Markets increased their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, September 9th. Canaccord Genuity Group raised their price objective on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.38.

Institutional Trading of Celestica

Hedge funds have recently modified their holdings of the company. Cim LLC acquired a new stake in shares of Celestica in the second quarter valued at approximately $1,343,000. Sanctuary Advisors LLC acquired a new stake in shares of Celestica in the second quarter valued at approximately $2,140,000. Maven Securities LTD acquired a new stake in shares of Celestica in the second quarter valued at approximately $258,000. Cetera Investment Advisers increased its holdings in shares of Celestica by 119.5% in the second quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock valued at $1,504,000 after purchasing an additional 14,305 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Price Performance

NYSE:CLS traded down $1.51 during mid-day trading on Tuesday, hitting $49.61. The company’s stock had a trading volume of 1,790,444 shares, compared to its average volume of 2,234,688. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $63.49. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 18.51 and a beta of 2.29. The stock has a fifty day moving average of $49.52 and a 200-day moving average of $50.78.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. As a group, equities analysts forecast that Celestica will post 3.22 EPS for the current fiscal year.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.